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Non-Tech : Any info about Iomega (IOM)?
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To: Bearded One who wrote (34082)10/30/1997 9:21:00 PM
From: Gary Wisdom  Read Replies (1) of 58324
 
<<Decreased revenues are bad for Syquest, but their increased unit sales are bad for Iomega.>>

B.O.

Let me say this the nicest way that I can:

It would behest you to take a little time to review Syquest's financials. They may have sold a few more units this last quarter than the previous quarter, but note that their revenue and unit sales have been less and less every quarter for the past 3 years or so.

Also note that while Iomega does not book revenue when they ship product, Syquest most likely does. Just because some one took delivery, doesn't mean the units were sold.

Syquest has proved to the market that selling less, and making less money, while having some bozo like Herb Greenberg put its name in the paper, add up to a short term movement in the price of the stock.

All for the purpose of attracting some new capital to forestall the inevitable: bankruptcy.

Who could be silly enough to think I.T. professionals are going to flock to the products of a company that most likely won't survive 1998. Even if they introduce the 4.7 GB drive at Comdex, you know as well as I do that the product won't be available until someti9me next year. By then, they will be out of capital.

I would short Syquest today, but have lost faith in the market's ability to be rational. So, I will wait until it hits $8. Then, I will take all my Iomega profits and short the hell out of it and not close my position until my brokerage will let me buy it for $.01.

Mark my words.
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